Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,713 shares of the company’s stock after buying an additional 1,774 shares during the period. Avior Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $179,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. raised its holdings in shares of Warner Bros. Discovery by 106.7% in the 4th quarter. Everence Capital Management Inc. now owns 57,457 shares of the company’s stock worth $654,000 after purchasing an additional 29,660 shares during the period. Octavia Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $115,000. SVB Wealth LLC raised its holdings in shares of Warner Bros. Discovery by 43.2% in the 4th quarter. SVB Wealth LLC now owns 32,011 shares of the company’s stock worth $364,000 after purchasing an additional 9,661 shares during the period. Bourgeon Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 11.6% in the 4th quarter. Bourgeon Capital Management LLC now owns 38,502 shares of the company’s stock worth $438,000 after purchasing an additional 4,000 shares during the period. Finally, Cullen Investment Group LTD. purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $758,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on WBD. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, January 11th. Citigroup dropped their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.40 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76. The business has a 50 day moving average price of $8.77 and a two-hundred day moving average price of $10.05. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a market cap of $20.49 billion, a PE ratio of -6.56 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the business earned $0.42 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.